Foxconn decided to work on its own electric car just like Apple. Previously, different sources and leaks confirmed that the iPhone giant manufacturer is developing its own electric vehicle. The company was also looking for other partners such as Hyundai.
Since most non-car manufacturers will face some difficulties when making electric vehicles, they need to partner with tech firms that are known for making automobiles. This is why Foxconn decided to partner with Fisker Incorporated.
Foxconn, the Taiwan-based electronics manufacturing company best known for assembling the Apple iPhone, said on Wednesday, Feb. 24, that it is currently in an agreement with California-based electric car company Fisker to develop a new electric SUV. Fisker Inc. or SPAW went public last 2020 through a SPAC merger with Spartan Energy Acquisition.
The popular car designer Henrik Fisker is the one that founded Foxconn’s current partner. Fisker Incorporated already has an agreement with Magna, an automotive contract manufacturing company. Magna said that it is expecting its upcoming Fisker Ocean electric SUV to arrive by late 2022. The Ocean is based on engineering developed by Magna but modified by Fisker.
Foxconn and Fisker’s partnership
As of the moment, Foxconn and Fisker are working together. Their partnership was confirmed by a joint press release conducted by the two companies. The companies announced a memorandum of understanding and did not reveal any financial terms of the potential deal.
If their new project becomes a success, the upcoming EV would be Fisker’s second model after the Ocean. The two firms released few details other than a vague design sketch of the car. Fisker and the smartphone manufacturer did not announce a target price for the vehicle they intend to work on.
Mr. Fisker said that “not unlike when Isaac Newton realized the powers of gravity, the inspiration for this project has come from some unconventional sources.” This that the new EV project was developed because of necessity.
He added that “the design sketch hints at the direction we are taking. However, with the level of innovation planned for this vehicle, I intend to keep the final design a surprise until the last possible moment!”
What the new electric car would look like
On the other hand, the new EV is expected to have large wheels and a body that is similar to a sports car. Rumors stated that it has the same design as the coupe-shaped SUVs made by a number of luxury car manufacturers. These include Mercedez-Benz, BMW, and more.
Fisker stated that it is planning to manufacture more than 250,000 models of its upcoming second EV a year. The company said that the production could start by the end of 2023.
Young-way Liu, the chairman of Foxconn Technology Group, said that ” the collaboration between our firms means that it will only take 24 months to produce the next Fisker vehicle — from research and development to production, reducing half of the traditional time required to bring a new vehicle to market.”
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